Initial Jobless Claims Fall Third Straight Week

Washington, DC, March 18, 2010--Initial jobless claims fell by 5,000 in the latest week, marking the third straight decline, according to the Labor Department.

In the week ended March 13, initial claims dropped to 457,000 from 462,000 in the prior week.

Economists predicted claims would subside to 455,000. See our complete economic calendar.

The four-week average of initial claims fell by 4,250 to 471,250.

Although jobless claims have fallen three straight weeks, they are still 5.8% higher compared to the end of 2009.

White House officials predict the economy will add an average of 100,000 jobs a month in 2010, but that would just keep pace with natural growth in the labor force.